Is Stephen Chow Remaking Bruce Lee’s THE WAY OF THE DRAGON with Anne Hathaway and Jack Black?

I make it a rule never to trust a Chinese tabloid (I’ve been burned too many times!), but sometimes rules have to be broken if the rumor is delicious enough. Twitch reports [via Channel News Asia] that actor/writer/director Stephen Chow (Shaolin Soccer, Kung Fu Hustle) is making his next film Tai Chi, which will be a remake of the 1972 Bruce Lee film The Way of the Dragon. That’s pretty cool. Even cooler, the film may film this June and co-star Jack Black and Anne Hathaway.

Hit the jump to learn why this may be more than a rumor.

This story may seem to good to be true, but the devil’s in the details. CNA says that Tai Chi will be produced by China Film Group Corporation and “an unnamed American film company,” and will cost $60 million to make. Chow reportedly spent two years on the film to make it perfect (he is, unsurprisingly, a huge fan of Lee’s) and is working with a Tutor to make sure his English is strong enough to be worthy of an English-language debut.

For those who don’t know, Way of the Dragon “tells the story of a Chinese migrant in the US (played by Chow) who works as a dishwasher in Chinatown and hides his skills as a Tai Chi master. He is forced to stand up to gangsters who oppress his fellow migrants and later gets invited to start martial arts schools to share his knowledge.”